Ben's Mentoring Had the Following Information for the Pay Period

question 28

Short Answer

Ben's Mentoring had the following information for the pay period ending September 30: Assume:
FICA-OASDI applied to the first $128,400 at a rate of 6.2%.
FICA-Medicare applied at a rate of 1.45%.
FUTA applied to the first $7,000 at a rate of 0.8%.
SUTA applied to the first $7,000 at a rate of 5.6%.
State income tax is 3.8%.
Employees contribute to their retirement fund at a rate of 5.5% of their gross earnings.
-Compute the total retirement.

---

Definitions:

Reality

The state of things as they actually exist, as opposed to an idealistic or notional idea of them.

Favored Team

The team or group that is generally expected or predicted to win a competition or achieve success due to its superior position or abilities.

Potential Penalties

Possible sanctions or punishments that could be imposed as a consequence of breaking a law or rule.

Independent Observers

Individuals or entities that are not involved in the actions or events being observed, ensuring unbiased and objective reporting or analysis.